Falcon Cargo Ships, Inc. Plan To Construct Five Dry-Bulk Cargo Ships

Falcon Cargo Ships, Inc., 277 Park Avenue, New York, N.Y., has revised its January 23, 1976, application for operating-differential subsidy (ODS) and construction- differential subsidy (CDS), and has submitted a new application for a Title XI guarantee, all to aid in the construction and operation of dry-bulk cargo ships of approximately 37,000 deadweight tons. The revisions increase the number of vessels from three to five.

The ships will have the following characteristics: 613-foot length, 93-foot width, 32-foot draft, 9,225 bhp, and service speed of 15 knots. Of modified IHI "Futuro-32" design, the ships will have six holds and cargo gear at all hatches. They will require crews of 26 men. Falcon estimates the cost of the ships to be $30 million each, and seeks CDS of 50 percent.

Falcon proposes to charter the five vessels to two shipping companies located in Taiwan — Char Ching Marine Company, Ltd., and Good Harvest Marine Company— for the carriage of various drybulk cargoes between U.S. ports and the Far East. The principal countries will be Japan, Taiwan, the Philippines, Singapore, Thailand, India, and Pakistan.

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